- October 14, 2017
- Posted by: Anas Mokayad
- Category: Articles
NextGates – business team have found that it’s important to spot a light on this subject, because of its strategic influence on lives of both, individuals, and companies. We think it’s a common duty to increase the legal awareness for those who don’t know.
Many people think that as soon as their financial and tax cases are handed over to an accounting firm, they will become immune to tax accountability, and that accountant or accounting firm will hold the whole responsibility for the business accounts! They think that this firm will solve all of their problems, no matter how big or complicated they might be!
Tax agency “Skatteverket” has the right to ask at any time for such a documents regarding revision, checking or verifying. Therefore, we advise all business owners to keep their original documents. They can send a copies or restore the original ones after the accountant finishes working with them. In the case of loss of or damage, taxpayer is solely responsible for the preservation, even if he proved that he handed them over to the accountant under official signed receipt.
One important point. In case that tax agency “Skatteverket” requires any documents for the purposes of auditing, proof or comparison, or if there is a doubt in a particular subject or order! The failure to deliver the required documents within the specified time will leads the tax agency to sway and confirm the negative side of the order and doubts can easily turns into certain. This is a big problem for the taxpayer, It will exhaust him into a long series of procedures and financial auditing analysis. It may be long and ends with not praised results.
A second point we would like to point out is, that the manipulation in accounts, invoices, financial documents or intentional negligence can lead the way to the prison. Taxes counterfeiting is considered a great sin in Sweden, and such a cases are usually a public opinion issues and affect public affairs directly. Taxes evader is a thief who steals from those who live and work in the country, taxpayer with along citizens and residents have different types of services, which most of them are free because, they are funded originally from the tax revenues. It is collected by the tax authorities from all taxpayers. When someone is convicted of any case of tax evasion, a black point will be stored in his file. It may last up to twelve years while black spots in different cases may be recorded for only three years in his personal forensic record.
Since we have mentioned the judicial record system of individuals and companies and the hint of black points. It worth mentioning that the black points disappear with time and are removed from the judicial record, but remain registered in government records. The government can review them at any time, as they have become a part of your history. Even if you can’t see it, but it will stored.
It is obvious to us now that it’s important to keep the accounting and financial records for several years “up to seven”. Taxpayers hold personal responsibility for the validity of the financial statements and the tax returns.
It’s very important to know who works on our Taxes, is he or she are qualified enough! Do they have credibility, security and experience!
Errors in tax calculations may not be found immediately after submission to the tax authorities It can be revealed late, because programs operated by the tax authorities are cumulative and aggregative and based on automatic comparison of data, In the first period, some errors may be overlooked in the financial statements, which tax authorities expect the taxpayer to correct after a period due to the insufficient experience, especially in the first period of his business, but this does not mean at all that these errors have not been discovered.
Don’t ever forget, that tax authorities have the right to review and audit the financial statements retroactively extends for seven years earlier.